Bad to worse! (Capital One)

Member Name: LisaW82

Product:	Capital One
Date:	16/02/09 (205 review reads)
Rating:

Advantages: Good online payment method

Disadvantages: PPI selling, rates gone up and poor, poor customer service.

Having been a credit card owner through Capital One for the past 2 years, I can honestly say I cannot wait till my business with them is done and my balance is clear. To say I have had problems with them is an understatement and the letter regarding interest rates that I have just received is the straw that broke the camel's back for me.

On a positive note, the application process was swift and a decision was granted within a day or two, but from then on it was all down hill. The card took almost 3 weeks to arrive and then, after making my 3rd attempt to get through to activate it, I finally managed to get through to someone who would understand my simple request only to be told their system was down and I wouldn't be able to use it for another 24-48 hours. This was obviously a less than perfect start.

Once up and running, I found using the card to be the same as any other card, but then they can't get that wrong can they? Paying the bills was proving to be a real chore via the telephone, so I decided to register for online banking with them. On the positive side, this online service with Capital One does seem to be working really well and is very easy to use. Payments usually clear within 2 days, very fast for a credit card payment transaction.

The real problems with the card have arisen from what I believe to be underhand ploys from the company. Firstly, having seen in the news lately about mis-sold PPI (Payment Protection Insurance), I decided to look into it with all my credit cards as I never take it out due to an all encompassing seperate policy I have had for years. To my dismay, I found that Capital One had been charging me for PPI despite, to my knowledge, never telling me about it. I have since gone back to them to claim it all back, only to be told I can just stop it and have last months back. Obviously, thanks to Martin Lewis, we now know that I can claim it all back and that is ongoing.

I mentioned earlier that I received a letter a few days ago from Capital One, well the contents of that letter are quite astonishing. Now, we all know that the Bank of England base rate has plummeted down to just 1% from 5.5% over the past 6 months, so how on earth can Capital One justify sending me, and I am sure many others, a letter saying that they are not only not passing on any of the saving, they are actually putting their interest rates up. This is sighted as due to the cost of lending between banks. Now, we all know whose fault that is don't we?

This is the final straw for me and as soon as my balance is clear, this is the very last I will ever have to do with Capital One. Needless to say I did try to ring them about it and didn't even get an answer on it, instead they tried to sell me PPI. Truly unbelievable.

Summary: Has to be the credit card to avoid.